INCREASE IN RETENTION. A. If the Ceding Company should increase the retention limits as listed in Exhibit II, prompt written notice of the increase must be given to the Reinsurer.
B. In the event of an increase in retention, the Ceding Company will have the option of recapturing the reinsurance up to the increased retention under this Agreement. The Ceding Company may exercise its option to recapture by giving written notice to the Reinsurer within (90) ninety days after the effective date of the increase.
C. If the Ceding Company exercises its option to recapture, then:
1. The Ceding Company must reduce the reinsurance on each individual life on which the Ceding Company retained the maximum retention limit for the age and mortality rating that was in effect at the time the reinsurance was ceded to the Reinsurer.
2. No recapture will be made to reinsurance on an individual life if (a) the Ceding Company retained a special retention limit less than the maximum retention limit for the age and mortality rating in effect at the time the reinsurance was ceded to the Reinsurer, or if (b) the Ceding Company did not retain insurance on the life.
3. The Ceding Company must increase its total amount of insurance on the individual life up to the new retention limit by reducing the reinsurance. If an individual life is shared by more than one reinsurer, the Reinsurer's percentage of the reduced reinsurance will be the same as the initial reinsurance on the individual risk.
4. The reduction in reinsurance will become effective on the next annual premium anniversary after the individual policy has been inforce for at least ten (10) years.
5. If more than one policy per life is eligible for recapture, then the eligible policies may be recaptured beginning with the policy with the earliest issue date and continuing in chronological order according to the remaining policies' issue dates.
INCREASE IN RETENTION. 1. The Reinsured may increase its limit of retention and may elect, subject to the provisions of this article, to continue the reinsurance in force under this Agreement without change, or to reduce all eligible reinsurance in force under this Agreement as set forth below. The increased limit of retention shall be effective with respect to reinsurance which is placed in effect on or after the effective date of the increase subsequent to the Reinsured providing written notice to the Reinsurer of such increase and of its election to either continue or reduce reinsurance on in force business.
2. No business will be eligible for reduction under this article unless the Reinsured kept its maximum retention as set forth in the retention schedule in effect at the time the insurance was issued. The amounts recaptured shall be sufficient to increase the Reinsured’s retention to the new limits. If there are other reinsurers, the reduction on each risk shall be divided according to each reinsurer’s portion of the total reinsurance on the risk. If the reinsurance is reduced on any risk, similar reductions shall be made on all risks eligible for recapture. The effective date of the reduction in reinsurance on a policy eligible for such reduction shall be the latter of the first policy anniversary following the notice to recapture and the th policy anniversary.
3. The retention limits of the Reinsured as of the effective date of this Agreement are shown in SCHEDULE G. [page break]
INCREASE IN RETENTION. The reduction in reinsurance shall first be applied to the reinsurance, if any, of the specific policy under which insurance terminated. The reinsurance of the Reinsurer shall be reduced by an amount which is in the same proportion of the amount of reduction so applied as the reinsurance of the Reinsurer bore to the total reinsurance of the policy. The balance, if any, of the reduction shall be applied to reinsurance of other policies on the life, the further reduction, if any, in the reinsurance of the Reinsurer again being determined on a proportional basis and shall be applied to policies in chronological order according to original policy dates.
INCREASE IN RETENTION. 1. If we should increase our retention limits, prompt written notice of the increase must be given to you.
2. We will have the option of recapturing the reinsurance under this Agreement when our retention limit increases. We may exercise our option to recapture by giving written notice to you within ninety (90) days after the effective date of the increase.
3. If we exercise our option to recapture, then;
A. We must reduce the reinsurance on each individual life on which we retained our maximum retention limit for the age and mortality rating that was in effect at the time the reinsurance was ceded to you.
B. No recapture will be made to reinsurance on an individual life if (a) we retained a special retention limit less than our maximum retention limit for the age and mortality rating in effect at the time the reinsurance was ceded to you, or if (b) we did not retain insurance on the life.
C. We must increase our total amount of insurance on the individual life up to our new retention limit by reducing the reinsurance. If an individual life is shared by more than one reinsurer, your percentage of the reduced reinsurance will be the same percentage as your initial reinsurance on the individual risk.
D. The reduction of reinsurance will become effective on the later of the following dates:
(1) The policy anniversary date immediately following the effective date of our increase in retention limits.
(2) The number of years stated in Schedule A starting with the 'policy date' for the risk involved or on the "Reinsurance Cession Card".
INCREASE IN RETENTION. If the Recapture Triggering Event is an increase in the Company’s retention on the Covered Policies as provided in Article V, Section 1(f) above, the Company shall give the Reinsurer ninety (90) calendar days written notice prior to the effective date of the recapture. The Company may apply the new retention to existing reinsurance and reduce the reinsurance in force, in accordance with the following rules:
(a) The portion of the business recaptured has satisfied the minimum in-force period requirements outlined in Exhibit B.18.
(b) Recapture may be made if the Company retained its quota share in accordance with Exhibit B.5 for the plan, age and mortality rating at the time the Covered Policy was issued. Any class of fully reinsured business or any classes of risks for which the Company established special retention limits less than those set forth in this Agreement at the time the Covered Policy was issued are not eligible for reduction.
(c) Such reductions shall be made on the next policy anniversary of each cession affected from the effective date of recapture set forth in the recapture notice from the Company to the Reinsurer or, reductions may be made according to a “one-time” effective date of recapture if agreed to by the Reinsurer.
(d) Recapture will be in the form of an increase in the Company’s retained quota share and a decrease in the quota share percentage ceded to the pool. This decrease will apply to all such in force business reinsured under this Agreement provided the requirements set forth in paragraphs 4. (a) and (b) above are satisfied.
(e) For a conversion policy, the duration for the recapture period will be measured from the policy date of the original Covered Policy.
(f) Recapture as provided herein shall be optional with the Company, but if any reinsurance is recaptured, all reinsurance eligible for recapture under the provisions of this Article V must be recaptured. If there is reinsurance with other reinsurers on risks eligible for recapture, the necessary reduction is to be applied pro rata to the total outstanding reinsurance with all reinsurers.
INCREASE IN RETENTION. 1. If Cedent should increase Cedent's Retention Limits shown in Schedule C, Cedent shall give Reinsurer prompt written notice of this increase.
2. Cedent will have the option to recapture a portion of the reinsurance under this Agreement when Cedent's Retention Limits increase.
INCREASE IN RETENTION. The Reinsurer shall not be liable for benefits paid under the Ceding Company’s conditional receipt or temporary insurance agreement unless all the conditions for automatic reinsurance coverage are met. After a policy is issued, no reinsurance benefits are payable under this pre-issue coverage provision. The Reinsurer’s liability under the Ceding Company’s conditional receipt or temporary insurance agreement is limited to the lesser of i. or ii. below:
INCREASE IN RETENTION. 7 VIII. Reinstatement. . . . . . . . . . . . . . . . . . . 8 IX. Expenses . . . . . . . . . . . . . . . . . . . . . 9 X. Claims . . . . . . . . . . . . . . . . . . . . . . 9 XI. Extra-Contractual Damages. . . . . . . . . . . . .11 XII.
INCREASE IN RETENTION. The risk shall not have been submitted on a facultative basis by the Ceding Company to the Reinsurer or other reinsurers within the last . [page break]
INCREASE IN RETENTION. The Ceding Company shall have the right to recapture any part of the reinsurance in force at any time. However, recapture must apply uniformly by increasing the maximum limits of retention as shown in Schedule A.
